Neptune Orient Lines Mulls Sale, IPO Of Logistics Business

By

P.R. Venkat

Updated Aug. 20, 2014 12:30 a.m. ET

SINGAPORE—Container shipper Neptune Orient Lines Ltd. is seeking to sell its profitable logistics business, as the Singapore company struggles with falling freight rates and an industrywide glut of ships.

Neptune Orient, or NOL, which is 65% owned by Singapore state investment company Temasek Holdings Pte. Ltd., has posted annual losses for more than three years and has been attempting to cut costs. And the glut of ships that has hit...